SHANGHAI, Jan 14 (SMM) – Operating rates at lead-acid battery producers across provinces of Jiangsu, Zhejiang, Jiangxi, Hubei, and Hebei rallied by 2.53 percentage points week on week, and averaged 62.07% in the week through January 11, SMM data showed.
More working days last week after the New Year's Day holiday accounted for the pick-up in operating rates, but quiet downstream purchases kept the rebound smaller than expected.
Poorer export orders for auto batteries ahead of CNY continued to weigh on production at some lead-acid battery producers. The rate across battery plants in Jiangxi extended its decline by 0.17 percentage point on the week, to 55.08% as of January 11.
Lead-acid battery producers across provinces plan to begin CNY breaks in the last 10 days of January, which is expected to further lower operating rates, SMM research found.
